Aber options Anki base metal bet

Calgary-based Westfort Petroleums (TSE) has agreed to finance exploration on Aber Resources’ (TSE) Anki nickel-copper property in the Northwest Territories. Under an option agreement, Westport can earn a 50% interest in the 9,000-acre property by spending $1 million over a 5-year period. Situated 85 miles northeast of Stony Rapids, Sask., the Anki prospect was last explored during the 1950s. Preliminary reserves are estimated to be 4.9 million tons grading 0.72% nickel and 0.19% copper. Based on results that show grades and widths improving at depth, the partners will test for downdip extensions of the zone. Previous deep intercepts include 45 ft. grading 1.2% nickel and 0.36% copper. Formerly an oil and gas junior, Westfort is changing its focus to base and precious metal exploration. It recently received shareholder approval to acquire a number of gold properties in Tanzania, East Africa.